Jones Financial Companies Lllp Reduces Holdings in Target Corporation $TGT

Key Points

• Jones Financial Companies Lllp dramatically reduced its stake in Target Corporation by 87.7%, selling 82,245 shares during the 1st quarter and retaining only 11,583 shares valued at approximately $1.209 million.
• Target's recent quarterly earnings report showed earnings per share at $2.05, slightly surpassing analysts' estimates, but revenue was down 0.9% year-over-year at $24.99 billion.
• Analysts maintain a mixed outlook on Target, with a consensus rating of "Hold", and a target price averaging around $113.74, indicating varied expectations for the stock's performance.

Jones Financial Companies Lllp reduced its stake in Target Corporation (NYSE:TGT - Free Report) by 87.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 11,583 shares of the retailer's stock after selling 82,245 shares during the quarter. Jones Financial Companies Lllp's holdings in Target were worth $1,209,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bernard Wealth Management Corp. acquired a new position in shares of Target in the 4th quarter worth approximately $29,000. Heck Capital Advisors LLC acquired a new position in shares of Target in the 4th quarter worth approximately $40,000. WPG Advisers LLC acquired a new position in shares of Target in the 1st quarter worth approximately $32,000. Mascagni Wealth Management Inc. acquired a new position in shares of Target in the 4th quarter worth approximately $49,000. Finally, 1248 Management LLC acquired a new position in shares of Target in the 1st quarter worth approximately $38,000. 79.73% of the stock is currently owned by institutional investors and hedge funds.

Target Price Performance

Shares of TGT opened at $90.03 on Friday. Target Corporation has a twelve month low of $87.35 and a twelve month high of $161.50. The firm's fifty day simple moving average is $100.52 and its 200-day simple moving average is $100.14. The firm has a market capitalization of $40.91 billion, a price-to-earnings ratio of 10.49, a PEG ratio of 2.64 and a beta of 1.16. The company has a current ratio of 0.99, a quick ratio of 0.32 and a debt-to-equity ratio of 0.99.

Target (NYSE:TGT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 20th. The retailer reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates of $2.04 by $0.01. Target had a net margin of 3.72% and a return on equity of 23.43%. The business had revenue of $24.99 billion for the quarter, compared to analyst estimates of $24.84 billion. During the same period last year, the business earned $2.57 EPS. The company's revenue was down .9% on a year-over-year basis. Target has set its FY 2025 guidance at 7.000-9.000 EPS. Equities analysts forecast that Target Corporation will post 8.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TGT has been the topic of several recent analyst reports. Loop Capital set a $95.00 price objective on shares of Target in a report on Thursday, July 17th. UBS Group reduced their target price on shares of Target from $135.00 to $130.00 and set a "buy" rating on the stock in a report on Thursday, August 21st. Wells Fargo & Company reduced their target price on shares of Target from $135.00 to $115.00 and set an "overweight" rating on the stock in a report on Thursday, May 22nd. Guggenheim reiterated a "buy" rating and set a $115.00 target price on shares of Target in a report on Thursday, August 21st. Finally, Royal Bank Of Canada increased their target price on shares of Target from $104.00 to $107.00 and gave the stock an "outperform" rating in a report on Thursday, August 21st. Ten investment analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Target presently has a consensus rating of "Hold" and a consensus target price of $113.74.

Target Company Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.

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